Westwood Market Correlations

WMNIX Fund

USD 9.73 0.01 0.10%

The current 90-days correlation between Westwood Market Neutral and Inverse Government Long is -0.14 (i.e., Good diversification). The correlation of Westwood Market is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Westwood Market Correlation With Market

Very weak diversification

The correlation between Westwood Market Neutral and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westwood Market Neutral and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Westwood Market Neutral. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Westwood Mutual Fund

0.74	WSDAX	Westwood Short Duration	Pair Corr
0.99	WWACX	Westwood Alternative	Pair Corr
0.67	WWHCX	Westwood High Income	Pair Corr
0.83	WWICX	Westwood Income Oppo	Pair Corr
0.84	WWIAX	Westwood Income Oppo	Pair Corr
0.76	WWLCX	Westwood Quality Value	Pair Corr
0.76	WWLAX	Westwood Largecap Value	Pair Corr
0.9	WWMCX	Ultimus Managers Trust	Pair Corr
0.84	WWSMX	Westwood Quality Smidcap	Pair Corr
0.66	WWSYX	Westwood Quality Smallcap	Pair Corr
0.65	WHGSX	Westwood Smallcap Value	Pair Corr
0.65	WHGAX	Westwood Quality Smallcap	Pair Corr
0.84	WHGMX	Westwood Smidcap	Pair Corr
0.77	WHGLX	Westwood Largecap Value	Pair Corr
0.85	WHGIX	Westwood Income Oppo	Pair Corr
0.73	WHGHX	Westwood Short Duration	Pair Corr
1.0	WMNUX	Westwood Market Neutral	Pair Corr
1.0	WMNAX	Westwood Alternative	Pair Corr
0.79	WQAUX	Westwood Quality Allcap	Pair Corr
0.96	CVSCX	Calamos Market Neutral	Pair Corr
0.95	CVSIX	Calamos Market Neutral	Pair Corr
0.95	CVSOX	Calamos Market Neutral	Pair Corr
0.95	CMNIX	Calamos Market Neutral	Pair Corr
0.95	ARBIX	Absolute Convertible	Pair Corr
0.95	ARBOX	Absolute Convertible	Pair Corr
0.95	PSCIX	Palmer Square Ssi	Pair Corr
0.7	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.7	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	SPMJX	Invesco Steelpath Mlp	Pair Corr

Moving against Westwood Mutual Fund

0.68	FMFFX	Fs Managed Futures	Pair Corr
0.42	BTMPX	Ishares Msci Eafe	Pair Corr
0.42	MDIIX	Blackrock Intern Index	Pair Corr
0.41	BTMKX	Blackrock International	Pair Corr

Related Correlations Analysis

	RYAQX	FISAX	PGIQX	FHNFX	SMAAX	DACGX
RYAQX		-0.36	-0.98	-0.98	-0.81	-0.96	RYAQX
FISAX	-0.36		0.49	0.49	0.54	0.51	FISAX
PGIQX	-0.98	0.49		1.0	0.87	0.99	PGIQX
FHNFX	-0.98	0.49	1.0		0.86	0.99	FHNFX
SMAAX	-0.81	0.54	0.87	0.86		0.89	SMAAX
DACGX	-0.96	0.51	0.99	0.99	0.89		DACGX
	RYAQX	FISAX	PGIQX	FHNFX	SMAAX	DACGX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FHNFX	+ 1.0	PGIQX
DACGX	+ 0.99	PGIQX
DACGX	+ 0.99	FHNFX
DACGX	+ 0.89	SMAAX
SMAAX	+ 0.87	PGIQX
SMAAX	+ 0.86	FHNFX

High negative correlations

FHNFX	- 0.98	RYAQX
PGIQX	- 0.98	RYAQX
DACGX	- 0.96	RYAQX
SMAAX	- 0.81	RYAQX
FISAX	- 0.36	RYAQX

Risk-Adjusted Indicators

There is a big difference between Westwood Mutual Fund performing well and Westwood Market Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Westwood Market's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RYAQX	0.61	0.05	(0.05)	0.37	0.64	(0.72)	1.52	(1.27)	5.23
FISAX	0.07	0.00	(0.71)	(0.01)	0.00	(0.18)	0.13	(0.13)	0.80
PGIQX	0.24	(0.01)	0.00	0.26	0.00	0.00	0.50	(0.64)	1.41
FHNFX	0.24	(0.01)	0.00	0.19	0.00	0.00	0.54	(0.54)	1.63
SMAAX	0.12	0.00	(0.44)	0.10	0.18	(0.17)	0.20	(0.30)	0.99
DACGX	0.20	(0.01)	0.00	0.31	0.00	0.00	0.39	(0.48)	1.03

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